Pre-flood home sales activity in communities surrounding Calgary saw an increase of 4.6 per cent over the first half of the year, but CREB® cautions the cleanup and rebuilding post-flood will have an as-yet unknown impact on those communities.

"While not all towns follow the same pricing trends, on aggregate the surrounding areas have been recording year-over-year price gains in excess of six per cent," said Ann-Marie Lurie, CREB®'s chief economist. "This in part is a result of the tighter supply levels in the city market spilling over into the surrounding areas."

Situated just 25 minutes east of Calgary, Strathmore's roots harken back to the earliest days of the province.

Back on July 28, 1883, when Canadian Pacific was laying the foundations for the nation, crews laid a record-setting 10.2 kilometres of track, ending at the south side of the then-unnamed hamlet.